Business
NOHO, Inc. Enters Letter of Intent to Acquire Smog Armor(R), Inc. and Transfer NOHO Brand Assets to Sibannac, Inc. in Blockbuster Three-Way Deal
NOHO, Inc. Enters Letter of Intent to Acquire Smog Armor(R), Inc. and Transfer NOHO Brand Assets to Sibannac, Inc. in Blockbuster Three-Way Deal.
About this update from Noho, Inc.
[{"type":"text","content":"Scottsdale, Arizona--(Newsfile Corp. - May 12, 2022) - NOHO, Inc. (OTC Pink: DRNK), a Wyoming corporation (the \"Company\"), announced the following:NOHO, Inc. has entered into a Letter of Intent to acquire Smog Armor, Inc., a special purpose acquisition company created to facilitate the transfer of the Smog Armor assets from its constituent entities. Smog ArmorTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7244/123877_bb343220f4e19985_002full.jpg Smog Armor Co. is a climate tech company based in Florida that has developed a nature-based technology that eliminates air pollutants, including CO2, VOCs, and odors. Their technology can be integrated into multiple products for different applications, one of which is Smog Armor air-purifying paint, their flagship product. It is a non-toxic ZERO-VOC paint that eliminates Carbon Dioxide and other toxins in the air by absorbing them from the outside environment utilizing a patent-pending proprietary process. Its mission is to \"paint away air pollution and extend the life of our planet with our innovative non-toxic, ZERO-VOC air purifying paints and technology.\" The Company has lab testing that confirms its products can reduce certain indoor air pollutants by up to 95% within an hour.Founded by Chief Executive Officer Tim Sperry, and Chief Operating Officer Angel Pedroza, the Smog Armor team is currently in discussions with municipalities planning to use the Company's paints in their facilities. In addition to using the paint on walls in both residential and commercial settings, Smog Armor is also licensing its technology and developing different applications including an application for logistics companies and large shippers to reduce carbon footprint and other VOCs. The final part will be the sale of all NOHO intellectual property, its brands, and formulas to Sibannac, Inc. (OTC Pink: SNNC). As the infrastructure of the NOHO brand has been substantially developed over the last year, the valuation of the NOHO assets will be re-valued to insure just compensation to the shareholders. Sibannac and incoming management will be discussing an ongoing relationship for some revenue sharing for NOHO's After Shot. Specific terms will be disclosed when the definitive agreements are executed. NOHO will acquire Smog Armor with preferred shares which w...